The financial statements are prepared in accordance with the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Trustees' Report contains the information required to be provided in the Trustees' Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the company are also charity trustees for the purpose of charity law and under the company's constitution are known as members of the board of trustees.

In this report the trustees of B B B OF C present a summary of its purpose, governance, activities, achievements and finances for the financial year 31 December 2025.

The principle objects of the charity are to:

i) provide relief to distressed persons actively engaged or who have been actively engaged in the sport of Professional Boxing and their defendants;

ii) promote research into the incidence, prevention, causes and treatment of brain and/or physical damage to persons actively engaged or who have been actively engaged in the sport of Professional Boxing by the provision of CT and/or MRI brain scans or otherwise.

Trustees confirm that they are aware of the Charity Commission's public benefit guidance and have given due regard to these when exercising powers or duties to which the guidance is relevant.

The main activities undertaken in relation to the principle objects of the charity are to provide financial assistance to eligible individuals and their families and to receive income from ongoing donations and falls within the remit of providing a public benefit.

The difference the charity makes the beneficiaries is overall is that it assess the financial circumstances of boxers who have fallen on hard times.

Income during the year was generated from Boxers' fines and voluntary donations.

Boxers who had experienced financial hardship or severe injury benefited from financial assistance during the year.

The company is limited by guarantee and governed by the contents of the Memorandum and Articles of Association thereof.

The Charity is administered by the trustees who must be no less than three in number, unless otherwise determined by ordinary resolution. Trustees are appointed by the members.

Day to day administration is carried out through the offices of the British Boxing Board of Control Limited under the administration of R W Smith the secretary of both the companies.

Income for the year was £239,965 (2024: £29,595) and expenditure was £33,259 (2024: £21,452), resulting in net income of £206,706 (2024: £8,143). The increase in income arose principally from donations and legacies of £105,750 (2024: £9,850). Expenditure on charitable activities was £33,147 (2024: £21,435), with £112 (2024: £17) incurred in raising funds.

Total funds at 31 December 2025 were £320,863 (2024: £114,157), all of which are unrestricted. The charity held cash at bank and in hand of £321,275 at the year end.

The trustees' policy is to maintain reserves at a level sufficient to meet the relief payments to boxers. The trustees consider the level of free reserves at the year end of £320,863 to be adequate for this policy.

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

i) income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

ii) legacy income is recognised when receipt is probable and entitlement is established.

iii) income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

iv) income from contracts for the supply of services is recognised with the delivery of the contracted service.

This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

i) expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

ii) expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance

of the charity apportioned to charitable activities.

iii) other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

The liability of the members is limited.

Every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while they are members, or within one financial year thereafter, for the payment of the debts and liabilities of the company contracted before they ceased to be members, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required, not exceeding £ 1.